Obama Taps Geithner, Lew to Help Resolve Tax Cut Debate

President Barack Obama announced Tuesday that he is appointing Treasury Secretary Timothy Geithner and Office of Management and Budget Director Jacob Lew to work with representatives of both parties “to break through this logjam” over extending Bush-era tax cuts.

Obama emerged from a two-hour bipartisan meeting with Hill leaders saying he asked them to each appoint a Member to help in the negotiation process. The parties disagree over whether to extend the Bush tax cuts only for the middle class, as Democrats want, or to include people making more than $250,000 per year, as Republicans want. All of the cuts are set to expire at the end of the year.

“That process is beginning right away,” the president told reporters. “We expect to get some answers back over the next couple of days.”